Which item is NOT a primary objective of the collection department?

Which item is NOT a primary objective of the collection department?

• A. Maintain goodwill
• B. Collect leases
• C. Approve new leases
• D. Track portfolio

Answer: (C)

The collection department focuses on securing payments, maintaining customer relationships, and monitoring the portfolio. Its main tasks are collecting lease payments, communicating with customers to manage delinquencies while preserving goodwill, and tracking portfolio performance to spot trends and risks. Approving new leases is not part of collections; that approval process belongs to underwriting/origination, where creditworthiness and terms are evaluated before a lease is made. So the item about approving new leases is not a primary objective of the collection department, making it the correct choice for the NOT primary objective.

The collection department focuses on securing payments, maintaining customer relationships, and monitoring the portfolio. Its main tasks are collecting lease payments, communicating with customers to manage delinquencies while preserving goodwill, and tracking portfolio performance to spot trends and risks. Approving new leases is not part of collections; that approval process belongs to underwriting/origination, where creditworthiness and terms are evaluated before a lease is made. So the item about approving new leases is not a primary objective of the collection department, making it the correct choice for the NOT primary objective.